News

Regarding Inheriting of Shares of Olainfarm Owned by Valerijs Maligins

on January 16, 2018

Today, on January 16, 2018, Certified Notary Valda Vaivare read out the Testament of Valerijs Maligins, long term Chairman of the Board and co-owner of JSC Olainfarm, who suddenly passed away last month.

According to the Testament, shares of JSC Olainfarm and shares of Olmafarm Ltd. shall be inherited by all children of Mr. Maligins in equal parts, with the condition that they are not allowed to sell, present or otherwise alienate them during the five-year period after the inheritance is received. Valerijs Maligins owned 3 791 810 shares of JSC Olainfarm and 100% shares in Olmafarm Ltd., which owns another 5 994 054 shares of JSC Olainfarm.

All heirs, creditors and other entities having claims on the inheritance may submit them before April 13, 2018.

JSC Olainfarm is one of the biggest pharmaceutical companies in Latvia with 45 years of experience in production of medication and chemical and pharmaceutical products. A basic principle of company’s operations is to produce reliable and effective top quality products for Latvia and the rest of the world. Products made by the Group are being exported to more than 50 countries of the world, including the Baltics, Russia, other CIS, Europe, Asia, North America and Australia.